Mubadala Investment Company, the Abu Dhabi sovereign wealth fund, has posted its strongest financial performance in its 20-year history.
In its 2021 financial results, Total Comprehensive Income (TCI) grew to $33.2 billion (AED 122 billion) compared to $19.6 billion (AED 72 billion) in 2020 – an increase of 69 percent.
At the year end, its assets under management across the group stood at $284.5 billion, compared to $243.4 billion in 2020. Mubadala said this growth was supported through investment returns, monetising certain assets and new partnerships.
Among its many financial highlights, Mubadala listed its wholly-owned semiconductor manufacturing company, GlobalFoundries, on the NASDAQ, valuing the company at nearly $26 billion in one of the biggest flotations of 2021 in the US.
Yahsat’s IPO on the Abu Dhabi Securities Exchange supported the growth of Abu Dhabi as a capital marketplace and raised $731 million.
Managing Director and Group CEO Khaldoon Khalifa Al Mubarak said: “2021 was Mubadala’s strongest financial year in its 20-year history.
“We are managing for value as well as staying focused on our long-term mandate to find commercial opportunities despite the current challenging and complex global economic outlook, with headwinds such as inflation, supply chain disruptions and tighter monetary policy.”
Mubadala invested $34 billion during 2021 in key sectors in the UAE and internationally, including the UK and France. He added: “Mubadala continues to invest in sectors that are changing the world and impacting global business.”
Mubadala Capital, which began operations in 2011, became a wholly-owned subsidiary with $13.7 billion assets under management including managing third-party capital.
Mubadala Capital Group Chief Financial Officer Carlos Obeid added: “Mubadala ended the year more diversified and resilient, and better prepared for the more uncertain macroeconomic environment ahead.”
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